Small / Medium Businesses must focus on their core competency to grow their business, rather than spending time and resources on HR & payroll processing. However employees are key assets that play a big role in the success of any company. Fine-tuning your HR and payroll practices will make it easier for employees to interact with the systems. Companies that value their employees and make them feel happy at work perform better with 31% more productivity and generate 22% additional revenue as per research in USA. Automation of HRMS with good software will set you free from spending long unproductive hours in managing HR and payroll processes. Employees are happy when their pay and benefits along with their service records are flawlessly managed on time without demanding their time and attention.
Things to look for in HRMS software…
One crucial point in selecting HRMS software is to look at your needs. Is it the basic HR and payroll functions or the features that help you automate shift scheduler, wage protection, end of service benefit, biometric integration and so on. If you have multiple working locations you have to confirm if it is web enabled and can be accessed from anywhere and any device. Other factors to asses include possibility for integration, after sales service, implementation support and local availability for any kind of service and support.
Software providers now offer online platforms like cloud based solutions known as software as a service (SAAS) which are inexpensive and you also needn’t have to invest on hardware and software. Simply you need to only subscribe to the service which comes with an added advantage of free upgrades and security.
Advantages of HRMS software…
The biggest advantage would be the time you save in all processes of computing and generation of complex reports by just click of a button. All HR & Payroll related issues from the point of recruiting the employee to the stage of his retirement or resignation, it takes care of the complete employee lifecycle and archives it for any further reference. HRMS software reduces human errors to bare minimum which could result in serious complications both financially and legally. Companies constantly review data to gauge the turnover rate and hiring costs to devise strategies, this is possible with the help of numerous MIS reports that can be generated from HRMS software.
Many software providers offer free trial period, with this you have a great opportunity to try and examine if the software is compatible as per your requirement before investing on it. On top of try before you buy these software’s come at a very low cost. Every riyal spent on the software is worth as it reduces the man hours drastically spent on payroll processing.